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Pensioners cry out over non-payment of five years retirement benefits

By Murtala Adewale, Kano
07 October 2021   |   2:21 am
Discomfort by the non-payment of retirements and death benefits kept in abeyance since 2016, in Kano, a concerned group of pensioners has appealed to the state government to clear their entitlements.

Discomfort by the non-payment of retirements and death benefits kept in abeyance since 2016, in Kano, a concerned group of pensioners has appealed to the state government to clear their entitlements.
  
The group, under the auspices of Kano State Pensioners Unity, equally raised concern over the failure of the state government to remit its statutory contributions and those of the workers to the pension fund trustees as another critical challenge in pension management in the state.
 
Rising from a stakeholders’ meeting held to address the predicament of the retirees, the group alleged that the trustee were currently insolvent and may find it difficult to meet the outstanding benefits running into billions of naira.
 


In a communique signed by a nine-man committee chaired by Umar Farouk Ibrahim, the group said: “State Pension Fund, financially solvent at inception, has been depleted as a result of inadequate funding and management to the extent that the body could be termed insolvent, except for the few assets in its possession, which unfortunately cannot meet its outstanding obligations.
 
“The settlement of retirement and death benefits for those that left the service or died since 2016 has been kept in abeyance making such unpaid entitlement continue to accumulate into billions of naira.

“That for months, the Kano State government has been underpaying pensioners on account of lean financial resources. This action has continued to add financial pressure on pensioners whose earnings, even when fully paid, are inadequate to meet their many needs under the current economic situation”.

The group, therefore, urged the Pension Trust Fund to, as a matter of necessity, commence periodic publication of reports of its activities especially the finances liabilities as required by laws.

The group equally wants the umbrella body of pensioners’ unions to form a revolving minor loan fund intervention as well as emergency relief and welfare fund to support indigent and families of pensioners in dire need.